Stock-Based Compensation

3 Months Ended

Mar. 31, 2020

Share-based Payment Arrangement [Abstract]

Stock Grants

There were no stock grants granted during the three months ended March 31, 2020 and 2019, respectively. The Company recognized no stock-based compensation expense related to stock grants for the three months ended March 31, 2020 and 2019, respectively.

Restricted Stock Units

During the three months ended March 31, 2020 and 2019, 0 and 37,235 restricted stock units were awarded by the Company, respectively. During the three months ended March 31, 2020 and 2019, 0 and 7,518 restricted stock units vested, respectively. During the three months ended March 31, 2020 and 2019, 0 and 7,978 restricted stock units were forfeited under the Company's Long-Term Incentive Plan, as Amended and Restated (the "Plan") and became available for reissuance, respectively.

The table below shows the Company's stock-based compensation expense related to the restricted stock units for the three months ended March 31, 2020 and 2019, respectively, and is included in General and administrative expenses within the Condensed Consolidated Statements of Income:



	Three Months Ended
(millions) (unaudited)	March 31, 2020		March 31, 2019
Stock-based compensation expense	$	0.3	$	0.2

As of March 31, 2020, there was $1.4 million of unrecognized stock-based compensation costs related to the restricted stock units that are expected to be recognized over a weighted average remaining period of approximately 1.6 years.

Performance Share Units

During the three months ended March 31, 2020 and 2019, the Company granted 96,056 and 125,232 performance share units to certain executives, respectively. No performance share units vested during the three months ended March 31, 2019. During the three months ended March 31, 2019, 7,940 performance share units were forfeited under the Plan and became available for reissuance. During the three months ended March 31, 2020, compensation expense related to 302,969 performance share units granted under the Performance-Based Incentive Program was reversed, because the Company no longer expected the required performance targets to be achieved for those awards.

The table below shows the Company's stock-based compensation expense (reduction of expense) related to the Performance-Based Incentive Program for the three months ended March 31, 2020 and 2019, respectively, and is included in General and administrative expenses within the Condensed Consolidated Statements of Income:



	Three Months Ended
(millions) (unaudited)	March 31, 2020			March 31, 2019
Stock-based compensation (reversal) expense	$	(3.2	)	$	0.2

As of March 31, 2020, there was $0.1 million of unrecognized compensation expense related to performance share unit awards, which is expected to be recognized over a weighted average period of approximately 0.7 years.